Pearl Securities Limited – Tech Pearl
Karachi, January 20, 2015 (PPI-OT): Technical Overview – Be Cautious!
KSE-100 kept continuing record breaking milestones and gained 228 to close at 34,014.26 yesterday. Volumes were remained higher but less than the previous day and stood at 306m shares. No drought about the pace Pearl Securities Limited witnessed of the market was amazing where every quarter rushed for fresh buying particularly in blue chip stocks. Sideboard were also very active side by side where investors seemed comfortable for making profits by putting strict stop loss.
Every day brings new high with improved volumes, revealing strong signals for further highs with the same pace in volumes. The strength of the market can be gauged by consistent increase in volumes and gains. However, on average travelled in the positive path during last couple of weeks, suggesting intra-day correction due to heavy RSI and uncomfortable trend in Momentum (indicator). Be Cautious!